TYPES OF PLANNING IN STRATEGIC MANAGEMENT

  INTRODUCTION 

The complexity and sophistication of business decision making requires strategic management and planning skills. Managing various and multi-faceted internal activities is only part of the modern  executive’s  responsibilities.  The  firm’s  immediate  external  environment  poses  a second  set  of  challenging  factors.  This  environment  includes  competitors,  suppliers  of increasingly scarce resources, government agencies monitoring adherence to an ever-growing number of regulations and customers whose often inexplicable preferences must be anticipated, monitored, assessed, and incorporated in top-level decision making. This paper attempts an explicit exposé on the following:    Strategic Planning   Corporate Planning   Adaptive Planning   Contingent Planning